London’s FTSE 100 was up 0.6% at 7,336.05 in afternoon trade on Thursday.
Ladbrokes owner Entain was the top gainer on the index as Berenberg cuts its price target on the shares but reiterated its ‘buy’ rating after the company’s full-year results .
“Looking into FY22, while the company faces tough comps and a potential headwind from UK regulation, Entain’s track record is enviable and, with further growth opportunities ahead (both organic and inorganic), we remain bullish about the company’s prospects,” it said.
Ocado slid as the online supermarket said retail revenue fell in the first quarter of 2022 and warned about uncertainty caused by the rising cost of living. Revenue fell 5.7% in the 13 weeks to the end of February as customer orders rose 11.6%. The average basket size at the business, a joint venture with Marks & Spencer, fell 15%.
M&G and NatWest were both in the red as they traded without entitlement to the dividend.
FTSE 100 – Risers
Entain (ENT) 1,633.00p 3.29%
Experian (EXPN) 3,039.00p 3.09%
Halma (HLMA) 2,491.00p 3.06%
Smurfit Kappa Group (CDI) (SKG) 3,499.00p 2.73%
Shell (SHEL) 1,952.50p 2.57%
Spirax-Sarco Engineering (SPX) 12,825.00p 2.40%
Rio Tinto (RIO) 5,544.00p 2.33%
Informa (INF) 601.20p 2.31%
Diageo (DGE) 3,674.50p 2.28%
BP (BP.) 368.80p 2.26%
FTSE 100 – Fallers
Ocado Group (OCDO) 1,108.50p -7.89%
M&G (MNG) 215.10p -4.70%
NATWEST GROUP PLC ORD 100P (NWG) 211.20p -4.61%
Royal Mail (RMG) 360.00p -3.15%
Barclays (BARC) 170.96p -2.40%
Barratt Developments (BDEV) 553.80p -2.40%
Persimmon (PSN) 2,247.00p -2.39%
Anglo American (AAL) 3,619.50p -2.32%
Admiral Group (ADM) 2,570.00p -2.32%
Rolls-Royce Holdings (RR.) 92.23p -2.28%
